13 oil blocks failed to attract investors as FG recorded 200 bids in 2025 licensing round

The Federal Government has announced that 13 oil and gas blocks offered during the 2025 Licensing Round will be withdrawn from the current bidding process because they failed to attract investor interest.

The disclosure was made on Tuesday in Abuja by the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), Oritsemeyiwa Eyesan, during the 2025 Commercial Offering Conference.

According to Eyesan, although the government offered 50 oil and gas assets, only 37 assets attracted offers from potential investors.

“At the end of practice, we offered 50 blocks, but we only got reps on 37 of those 50 blocks.

“Those thirteen blocks will be returned to the basket,” he said.

Despite 13 failed blocks, the NUPRC chairman described the licensing exercise as a great success, revealing that 143 companies submitted around 200 commercial bids for the available assets.

“We had a total of 143 companies show interest for 200 offers. For us, this is incredible, and I have to say thank you,” said Eyesan.

He noted that the level of participation reflects growing confidence in Nigeria’s oil and gas industry, indicating that interest in the exercise is much higher at an early stage.

“When we started this journey, we had interest from almost 300 companies. I repeat, almost 300 companies. I think that is an indication that things in Nigeria have changed,” he said.

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Eyesan explained that the number of interested companies reduced significantly after the commission completed a screening process to ensure only eligible participants advanced to the next stage of the exercise.

“From the nearly 300 interested parties we got, we entered the prequalification stage, and that number was cut to 196,” he added.

He said the process ultimately resulted in 143 qualified companies that collectively submitted about 200 bids during the commercial phase of the licensing round.

The Federal Government launched the 2025 Licensing Round on November 11, 2025, under the provisions of the Petroleum Industry Act (PIA) 2021, offering 50 oil and gas blocks spread across seven sedimentary basins.

The assets include 16 onshore blocks in the Niger Delta, 18 shallow water blocks, one deep offshore block, three blocks in the Benin Basin, four blocks in the Anambra Basin, four blocks in the Chad Basin, and another four blocks in the Benue Trough.

The online bidding portal opened on December 1, 2025, while a pre-offering conference was held in Lagos on January 14, 2026, to guide interested investors through the registration process.

Registration and submission of pre-qualification documents closes on February 27, 2026, and the screening exercise concludes on March 16.

Based on the NUPRC evaluation framework, tender winners are determined through a weighted assessment that combines signature bonus commitments, proposed work programs and performance guarantees, as well as technical and commercial evaluations.

The commission said this approach is intended to ensure that only financially capable and technically competent investors can secure oil and gas assets, with the aim of accelerating exploration activities and increasing production in Nigeria’s upstream petroleum sector.